The Kansas City Chiefs once cleared $43 million in NFL salary cap space by reworking Patrick Mahomes' deal. Now the franchise just added an additional $64 million to the quarterback Wednesday, thanks to a two-year extension. And this deal makes Mahomes even more wealthier.
ESPN NFL insider Adam Schefter reports the three-time Super Bowl Most Valuable Player will make more than $500 million through this reworked deal.
“The Chiefs are adding two years to Patrick Mahomes' contract in a reworked contract that ties him to Kansas City through 2033 at a value of $504.75 million, making it the first NFL deal valued at over a half-billion dollars, sources told ESPN,” Schefter wrote.
Schefter adds that the contract is worth $239.05 million along with the whopping value attached to him. Plus the $504.75 million becomes guaranteed to Mahomes.
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“Beginning in 2027, when the new money begins, the deal averages $64 million per year, setting a new NFL record for average annual value,” Schefter adds.
Mahomes resets the NFL market for the third time with this blockbuster arrangement. Each deal became finalized through general manager Brent Veach and Equity Sports CEO Chris Cabott.
This contract also arises as Mahomes aims to launch a redemption tour with Kansas City. The Chiefs endured a rough 6-11 campaign that saw their playoff streak snap for the first time under head coach Andy Reid. Mahomes even suffered a torn ACL and LCL on Dec. 14, 2025. The ailment marked the first time Mahomes couldn't finish out a season.
Kansas City enters 2026 with renewed optimism. Especially after luring back past Super Bowl winning cornerback L'Jarius Sneed for a reunion. Now KC showed its still all in with Mahomes leading them.
The Kansas City Chiefs once cleared $43 million in NFL salary cap space by reworking Patrick Mahomes' deal. Now the franchise just added an additional $64 million to the quarterback Wednesday, thanks to a two-year extension. And this deal makes Mahomes even more wealthier.